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Income Tax Appellate Tribunal, DIVISION BENCH ‘A’, CHANDIGARH
Before: SHRI SANJAY GARG & SHRI B.R.R. KUMAR
IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER ITA No.1246/Chd/2017 (Assessment Year : 2013-14) The A.C.I.T., Vs. M/s IPF Vikram India Ltd., Panchkula Circle, Plot No.380, Ph-I, Indl. Area, Panchkula. Panchkula. PAN: AAACI3719F (Appellant) (Respondent)
Appellant by : Shri J.S. Kahlon, Sr. DR Respondent by : Shri Tej Mohan Singh, Adv. Date of hearing :13.04.2018 Date of Pronouncement :15.06.2018
ORDER Per Sanjay Garg, Judicial Member :
This appeal has been preferred by the assessee against
the order of Ld. Commissioner of Income Tax (Appeals),
Panchkula (hereinafter referred to as (‘Ld.CIT (Appeals)’
dated 22.6.2017, passed u/s 250(6 of the Income Tax Act,
1961 (in short ‘the Act’) in Appeal No.50/PKL/16-17
relating to assessment year 2013-14.
The only issue involved in this appeal is relating to the
disallowance made u/s 14A of the Income-tax Act, 1961 (in
short 'the Act') read with Rule 8D(2)(ii) of the I.T. Act.
At the outset, Ld. Counsel for the assessee has invited
our attention to the impugned order of the CIT(A) and
pointed out that for the impugned assessment year there
wass no tax exempt income earned by the assessee. The Ld.
CIT(A) following the principles laid down by the Hon'ble
2 ITA No.1246/Chd/2017 AY: 2013-14
Jurisdictional High Court of Punjab & Haryana in the case
of ‘CIT, Faridabad Vs. Lakhani Marketing Inc.’ 226 Taxman
45 (P&H) deleted the additions made by the Assessing
officer on this issue. The Ld. counsel has further submitted
that the issue is now squarely covered by the numerous
decisions of the various High Courts including that of the
Jurisdictional High Court of Punjab and Haryana in the case
of ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H),
Hon'ble Delhi High Court in the case of ‘Cheminvest Ltd Vs.
ITO’ (2015) 378 ITR 33 (Delhi) and of the Hon'ble Gujarat
High Court in the case of ‘Corrtech Energy P. Ltd. (2014) 45
Taxman.com 116’ and further of the Hon'ble Allahabad High
Court in the case of ‘CIT Vs. M/s Shivam Motors (P) Ltd’
(2014) 272 CTR (All) 277 and various other case laws. In all
the above referred to case laws, the Hon'ble High Courts have
been unanimous to hold that no disallowance is attracted u/s
14A of the Act in case the assessee has not earned any income
not forming part of the total income.
In view of the above discussion, we do not find any
infirmity in the order of the CIT(A), the same is therefore
upheld.
In the result the appeal of the Revenue is hereby
dismissed.
Order pronounced in the open court on 15.06.2018
Sd/- Sd/-p (B.R.R. KUMAR) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated : 15th June, 2018 *Rati*
3 ITA No.1246/Chd/2017 AY: 2013-14
Copy to: 1. The Appellant 2. The Respondent 3. The CIT(A) 4. The CIT 5. The DR Assistant Registrar, ITAT, Chandigarh